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Greece - On the importance of productivity growth
Agoraof productivity growth recovering to around 1 percent a year. We also accept this assumption for Greece. [2..., on average. Table 1 presents key statistics to support our bearings. The population data come from... the 1970s onwards.[1] All industrial countries show this pattern. This development is not particular
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Finance Ministry targets 3 bln from unpaid taxes
EconomyMacroeconomypercent of total. The upper bracket, related to tax debt in excess of 1 million euros relates to 2,500... a useful insight into outstanding tax debt. Unpaid taxes stood at a total of 76 billion euros at the end of January 2015, of which 29.4 billion (38.7 percent of total) was created before 2009
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Piraeus Bank reports net profit of 164.3 mln in Q2
EconomyBankingloan provisions eased by 1 percent to 475.7 million. Top-line results mainly incorporate... deposit rates show there is difference of 35 bps between the front and the total book, suggesting further... 441 branches (26 percent of total) have been shut down over the past 12 months. The bank says it has
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Growing hopes that Greek recession will be milder than expected
Economypresented this week its updated forecasts calling for a GDP contraction of 1 percent this year from 2... this year, which is much softer than its previous forecast for a recession of 2 percent for 2015. Note, though, that the bank expects a bigger decline in 2016, when it believes GDP will fall by 2 to 3
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BoG proposes debt relief measures and lower primary surplus target from 2018
EconomyMacroeconomy: 1) GDP growth in line with the adjustment programme until 2022 and 1.5 percent thereafter 2) Inflation close to 2 percent until 2019 3) EFSF and ESM loan rates of 2.6 percent in 2020 and 3.5 percent... of debt relief measures that would allow Greece’s primary surplus target to be lowered to 2 percent
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General govt primary cash surplus at 1.68 bln in April, arrears rise by 164 mln
EconomyMacroeconomy, representing under 1 percent of the total. Guarantees The stock of gg guarantees fell by 116 million..., bringing the total figure to 221 million euros. The equivalent figure for the same time last year was 864 million. A decline was also noted in local governments, where the total fell by 65 million euros
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Overdue social security contributions rise to 35.54 bln in Q3, new debtors rise
EconomyMacroeconomythe four main Greek pension funds based on several theoretical collectability criteria. Total overdue... for an aggregate amount of 3.97 billion euros (11.2 percent of the total). Overall, 1.5 million... of the total). The number of debtors in this bracket rose by 7,821 to 175,063. Around 13.1 percent
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Newsletter 215 -19/07/2019
to announce 2 billion euros of spending cuts and savings to counterbalance the 6 billion euros in tax... of 7 billion euros, with the total this year reaching 7.5 billion. Greece’s debt managers note... (IoIs) exceeding 10.5 billion euros, before the book officially opening with a guidance of 2 percent
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Fitch keeps Greek rating at 'B' but downgrades outlook to negative
Economyhas moderated its stance since 2012 advocating: 1) Greece to remain in the eurozone 2) Commitment... that could result in a downgrade include: 1) Prolonged political deadlock and lack of agreement with the troika, a development that would create serious strains in the state’s cash flow. 2) A worsening
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Greece's fiscal, debt and funding goals as set out at Eurogroup
EconomyProgrammeinto account the following factors: 1) EFSF loans of 142 billion euros (75 percent of GDP) bear an interest of around 2.5 percent, have a maturity of 39 years and amortize from 2023 until 2054. 2... execution showed a revenue shortfall of 2 billion euros as of January and Varoufakis suggested
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